BioMarin Pharmaceutical (NASDAQ:BMRN) Receives “Sector Perform” Rating from Royal Bank of Canada

BioMarin Pharmaceutical (NASDAQ:BMRN)‘s stock had its “sector perform” rating reissued by research analysts at Royal Bank of Canada in a research report issued on Thursday,Benzinga reports. They presently have a $70.00 target price on the biotechnology company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 1.66% from the company’s current price.

BMRN has been the subject of a number of other research reports. Robert W. Baird cut their price target on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. William Blair lowered BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday. Wedbush raised BioMarin Pharmaceutical to a “strong-buy” rating in a research note on Monday, November 4th. Finally, StockNews.com raised BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and a consensus target price of $93.65.

BioMarin Pharmaceutical Trading Up 5.0 %

NASDAQ:BMRN traded up $3.25 during trading hours on Thursday, hitting $68.86. The company had a trading volume of 1,587,377 shares, compared to its average volume of 1,507,363. BioMarin Pharmaceutical has a 1 year low of $60.63 and a 1 year high of $94.85. The company has a market cap of $13.12 billion, a P/E ratio of 41.31, a P/E/G ratio of 0.57 and a beta of 0.28. The company has a 50-day moving average of $64.79 and a 200 day moving average of $71.06. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.18. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The firm had revenue of $747.31 million during the quarter, compared to analyst estimates of $711.05 million. Sell-side analysts expect that BioMarin Pharmaceutical will post 2.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in BioMarin Pharmaceutical during the 4th quarter worth about $234,645,000. Capital Research Global Investors increased its stake in shares of BioMarin Pharmaceutical by 23.8% during the fourth quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company’s stock worth $853,944,000 after buying an additional 2,496,817 shares during the period. Soleus Capital Management L.P. purchased a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth approximately $65,822,000. Dodge & Cox raised its holdings in BioMarin Pharmaceutical by 6.1% in the fourth quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company’s stock valued at $969,270,000 after acquiring an additional 847,917 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new position in BioMarin Pharmaceutical in the third quarter worth approximately $48,527,000. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.